National Fuel reports Q3 EPS 99c, consensus 96c

Reports Q3Pipeline and Storage segment net income increased $6.9 M, or 29%, from the prior year, David P. Bauer, President and Chief Executive Officer of National Fuel Gas Company, st…ated: “National Fuel’s solid third quarter adjusted operating results were bolstered by increased earnings from our rate-regulated businesses and our disciplined hedging program, which mitigated a large portion of the potential impact of lower natural gas prices in our upstream business. Despite this near-term commodity price challenge, National Fuel’s long-term outlook for growing earnings and free cash flow remains strong. “Our ongoing transition to Seneca’s Eastern Development Area continues to exceed expectations and positions us well to see further improvements in capital efficiency. We are also seeing significant growth in our regulated businesses as a result of recent ratemaking activity and our ongoing modernization programs. Combining our solid operational execution across our assets with the strong long-term outlook for natural gas prices, we expect